-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Re5Joa8MShKbHZ4NmnWCbedBeppSIyTlEy+/g8ZqOlpN8HxWNjo/F6Xj3uN4LLdW nlEEheBgf7qLrxuFZAbfkA== 0000950131-98-005118.txt : 19980910 0000950131-98-005118.hdr.sgml : 19980910 ACCESSION NUMBER: 0000950131-98-005118 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980726 FILED AS OF DATE: 19980909 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITOG CO CENTRAL INDEX KEY: 0000101909 STANDARD INDUSTRIAL CLASSIFICATION: APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300] IRS NUMBER: 440529828 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-06643 FILM NUMBER: 98705816 BUSINESS ADDRESS: STREET 1: 101 W 11TH ST CITY: KANSAS CITY STATE: MO ZIP: 64105 BUSINESS PHONE: 8164747000 MAIL ADDRESS: STREET 1: 101 W 11TH STREET CITY: KANSAS CITY STATE: MO ZIP: 64105 10-Q 1 FORM 10-Q FOR UNITOG COMPANY UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 26, 1998. OR (_) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________________ to ___________________. Commission file number: 0-6643 UNITOG COMPANY - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 44-0529828 - ---------------------------------------- ------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1300 Washington Street, Kansas City, MO 64105 - ---------------------------------------- ------------------- (Address of principal executive offices) (Zip Code) (816) 474-7000 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Not applicable - -------------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date. As of July 26, 1998, the registrant had 9,398,896 shares of common stock, par value $.01 per share, outstanding. TABLE OF CONTENTS
PART I. FINANCIAL INFORMATION Page Number ITEM 1. Financial Statements (1) Condensed Consolidated Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of July 26, 1998 and January 25, 1998. 3 Condensed Consolidated Statements of Earnings for the Three Months ended July 26, 1998 and July 27, 1997. 4 Condensed Consolidated Statements of Earnings for the Six Months ended July 26, 1998 and July 27, 1997. 5 Condensed Consolidated Statements of Cash Flows for the Six Months ended July 26, 1998 and July 27, 1997. 6 (2) Notes to Condensed Consolidated Financial Statements. 7 ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 10 PART II. - OTHER INFORMATION ITEM I. Legal Proceedings 13 ITEM 6. Exhibits and Reports on Form 8-K 13
2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements. UNITOG COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS July 26, 1998 and January 25, 1998 (unaudited)
ASSETS July 26, 1998 January 25, 1998 ------------- ---------------- Current assets: Cash and cash equivalents $ 672,278 $ 1,492,720 Accounts receivable, less allowance for doubtful receivables of $1,160,000 and $1,009,000, respectively 29,448,029 29,631,566 Inventories (note 2) 21,001,838 18,508,958 Rental garments in service, net 44,467,596 41,862,753 Prepaid expenses 1,340,105 1,102,585 ------------ ------------ Total current assets 96,929,846 92,598,582 ------------ ------------ Property, plant and equipment, at cost 196,723,078 189,231,058 Less accumulated depreciation 74,451,890 71,920,005 ------------ ------------ Net property, plant and equipment 122,271,188 117,311,053 ------------ ------------ Other assets, net 30,806,965 29,592,025 Excess cost over net assets of businesses acquired, net 39,320,177 36,806,869 ------------ ------------ $289,328,176 $276,308,529 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current installments of long-term debt $ 3,601,317 $ 3,502,885 Accounts payable 10,689,278 18,591,196 Accrued expenses 12,317,238 12,144,680 Accrued and deferred income taxes payable 12,189,290 12,262,867 ------------ ------------ Total current liabilities 38,797,123 46,501,628 ------------ ------------ Long-term debt, less current installments 126,220,300 110,268,916 Deferred income taxes and other liabilities 15,566,995 15,340,392 Stockholders' equity: Common stock of $.01 par value. Authorized 30,000,000 shares; issued 9,659,305 shares at July 26, 1998 and 9,657,909 shares at January 25, 1998 96,593 96,579 Treasury stock, 260,409 common shares at July 26, 1998 and 289,425 shares at January 25, 1998, at cost (5,659,844) (6,295,337) Additional paid-in capital 41,308,439 41,470,281 Retained earnings 72,998,570 68,926,070 ------------ ------------ Total stockholders' equity 108,743,758 104,197,593 ------------ ------------ $289,328,176 $276,308,529 ============ ============
See accompanying notes to condensed consolidated financial statements. 3 UNITOG COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS Three Months Ended July 26, 1998 and July 27, 1997 (unaudited)
July 26, 1998 July 27, 1997 ------------- ------------- Revenues: Rental operations $59,234,189 $54,674,420 Direct sales 12,851,010 13,996,222 ----------- ----------- Total revenues 72,085,199 68,670,642 ----------- ----------- Operating costs and expenses: Cost of rental operations 47,651,711 44,003,068 Cost of direct sales 11,194,511 11,689,687 Depreciation and amortization 4,898,634 4,347,696 General and administrative 2,099,459 2,072,825 ----------- ----------- Total costs and expenses 65,844,315 62,113,276 ----------- ----------- Operating income 6,240,884 6,557,366 Interest expense 1,950,145 1,625,288 Other expense (income), net (41,852) (24,539) ----------- ----------- Earnings before income taxes 4,332,591 4,956,617 Income taxes 1,643,100 1,884,000 ----------- Net earnings $ 2,689,491 $ 3,072,617 =========== =========== Net earnings per common share, basic $ .29 $ .32 =========== =========== Net earnings per common share, assuming dilution $ .28 $ .32 =========== ===========
See accompanying notes to condensed consolidated financial statements. 4 UNITOG COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS Six Months Ended July 26, 1998 and July 27, 1997 (unaudited)
July 26, 1998 July 27, 1997 ------------- ------------- Revenues: Rental operations $116,657,748 $108,705,493 Direct sales 25,763,637 28,875,130 ------------ ------------ Total revenues 142,421,385 137,580,623 ------------ ------------ Operating costs and expenses: Cost of rental operations 94,640,302 87,825,425 Cost of direct sales 22,117,538 23,926,242 Depreciation and amortization 9,724,187 8,506,044 General and administrative 4,183,326 4,521,873 ------------ ------------ Total costs and expenses 130,665,353 124,779,584 ------------ ------------ Operating income 11,756,032 12,801,039 Interest expense 3,932,358 3,080,664 Other expense (income), net (63,187) (72,514) Earnings before income taxes 7,886,861 9,792,889 Income taxes 2,995,000 3,721,000 ------------ ------------ Net earnings $ 4,891,861 $ 6,071,889 ============ ============ Net earnings per common share, basic $ .52 $ .63 ============ ============ Net earnings per common share, assuming dilution $ .52 $ .62 ============ ============
See accompanying notes to condensed consolidated financial statements. 5 UNITOG COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six Months Ended July 26, 1998 and July 27, 1997 (unaudited)
July 26, 1998 July 27, 1997 ------------- ------------- Cash flows from operating activities: Net earnings $ 4,891,861 $ 6,071,889 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 9,724,187 8,506,044 Provision for deferred income taxes 264,000 154,000 Loss (gain) on disposal of equipment (46,423) (27,327) Changes in assets and liabilities: Accounts receivable 183,537 (1,225,520) Inventories (1,914,413) (920,630) Rental garments in service (887,083) (169,710) Prepaid expenses (237,520) (125,559) Other noncurrent assets 320,889 1,157,423 Accounts payable (7,901,918) 288,406 Accrued expenses (17,442) 1,247,255 Income taxes payable (188,577) 2,436,257 Other noncurrent liabilities 77,603 (237,265) ------------ ------------ Net cash provided by operating activities 4,268,701 17,155,263 ------------ ------------ Cash flows from investing activities: Acquisition of rental operations (13,002,164) (2,991,835) Purchase of property, plant and equipment (7,950,955) (12,412,674) Proceeds from disposal of equipment 159,856 93,779 ------------ ------------ Net cash used by investing activities (20,793,263) (15,310,730) ------------ ------------ Cash flows from financing activities: Proceeds from stock issuance 559,701 85,244 Dividends paid (845,766) (723,583) Increases in long-term debt 16,049,816 -- Repayment of long-term debt -- (297,048) Purchase of treasury stock (59,631) -- ------------ ------------ Net cash provided (used) by financing activities 15,704,120 (935,387) ------------ ------------ Net increase (decrease) in cash and cash equivalents (820,442) 909,146 Cash and cash equivalents at beginning of period 1,492,720 31,307 ------------ ------------ Cash and cash equivalents at end of period $ 672,278 $ 940,453 ============ ============ Supplemental disclosure of cash flow information: Cash paid during the period for: Interest $ 3,808,000 $ 3,299,000 ============ ============ Income taxes $ 2,793,000 $ 1,117,000 ============ ============
See accompanying notes to condensed consolidated financial statements. 6 UNITOG COMPANY AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements Six Months Ended July 26, 1998 and July 27, 1997 Note 1 - ------ In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements reflect adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position of the Company as of July 26, 1998, and the results of its operations and its cash flows for the six months ended July 26, 1998 and July 27, 1997 and the results of its operations for the three months ended July 26, 1998 and July 27, 1997. The results of operations for the six months ended July 26, 1998 are not necessarily indicative of the results to be expected for the full year. Note 2 Inventories - ------------------- The following is a summary of inventories at July 26, 1998 and January 25, 1998:
July 26, 1998 January 25, 1998 -------------- ----------------- Raw materials $ 3,677,393 $ 3,977,563 Work in progress 4,147,642 2,683,273 Finished goods 17,673,315 16,250,295 ----------- ----------- 25,498,350 22,911,131 Less LIFO allowance (4,496,512) (4,402,173) ----------- ----------- $21,001,838 $18,508,958 =========== ===========
Note 3 Cash Dividend - -------------------- On June 23, 1998 the Company paid a $.09 per share cash dividend to stockholders of record on June 5, 1998. The $.09 per share dividend was 20% greater than the semiannual dividend paid in the second quarter of last year. Note 4 Acquisitions - ------------------- During the first quarter of fiscal 1999, the Company acquired certain uniform rental operations in Minnesota, Nebraska and Pennsylvania for approximately $13 million in cash. The assets acquired were primarily industrial uniform routes in Minnesota and Omaha, Nebraska and industrial uniform and linen routes and production facilities in Bethlehem and Harrisburg, Pennsylvania. These acquisitions are expected to add over $10.5 million in annual rental revenues. These acquisitions will be accounted for using the purchase method. 7 Note 5 Other Comprehensive Income - --------------------------------- During the first quarter of fiscal 1999 the Company adopted Financial Accounting Standard No. 130, Reporting Comprehensive Income (FAS 130). FAS 130 establishes standards for the reporting and display of items that affect stockholders' equity but are not components of reported net earnings. The Company's only component of comprehensive income was foreign currency translation adjustments. For the quarters ended July 26, 1998 and July 27, 1997 comprehensive income differed from net earnings as follows:
July 26, 1998 July 27, 1997 ------------- ------------- Net earnings $2,689,491 $3,072,617 Other comprehensive income, net of tax: Foreign currency translation adjustments 44,087 (5,110) ---------- ---------- Comprehensive income $2,733,578 $3,067,507 ========== ==========
For the six months ended July 26, 1998 and July 27, 1997 comprehensive income differed from net earnings as follows:
July 26, 1998 July 27, 1997 ------------- ------------- Net earnings $4,891,861 $6,071,889 Other comprehensive income, net of tax: Foreign currency translation adjustments 26,406 11,529 ---------- ---------- Comprehensive income $4,918,267 $6,083,418 ========== ==========
Accumulated other comprehensive income consisted entirely of foreign currency translation adjustments at July 26, 1998 and January 25, 1998. Accumulated other comprehensive income of $78,000 and $52,000 was included in retained earnings at July 26, 1998 and January 25, 1998, respectively. Note 6 Net Earnings Per Common Share - ------------------------------------ Net earnings per common share and net earnings per common share assuming dilution have been computed in accordance with FASB No. 128, Earnings Per Share. For the quarters ended July 26, 1998 and July 27, 1997 weighted average common shares outstanding and weighted average common shares outstanding, assuming dilution, were as follows:
July 26, 1998 July 27, 1997 ------------- ------------- Weighted average common shares outstanding 9,397,099 9,647,176 Dilutive effect of in-the-money employee stock options 59,014 83,651 --------- --------- Weighted average common shares outstanding, assuming dilution 9,456,113 9,730,827 ========= =========
8 For the six month periods ended July 26, 1998 and July 27, 1997 weighted average common shares outstanding and weighted average common shares outstanding, assuming dilution, were as follows:
July 26, 1998 July 27, 1997 ------------- ------------- Weighted average common shares outstanding 9,388,801 9,699,024 Dilutive effect of in-the-money employee stock options 56,368 19,383 --------- --------- Weighted average common shares outstanding, assuming dilution 9,445,169 9,718,407 ========= =========
For the quarters and six month periods ended July 26, 1998 and July 27, 1997, stock options were the Company's only potentially dilutive securities. Note 7 Sale of Linen Plants - --------------------------- In August 1998, the Company entered into an agreement to sell three rental laundry facilities to NuCentury Textile Services, Inc., a privately held organization. The facilities were located in Long Beach, California, Duluth, Minnesota and Toledo, Ohio. Estimated annual revenues for these principally linen rental facilities are approximately $20 million. The final sales price for this linen business is subject to adjustment dependent on the rental revenue. The transaction is expected to close in the next thirty days. The proceeds from the sale of approximately $20 million will be used to repay bank debt and for other corporate purposes. 9 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Liquidity and Capital Resources Cash provided by operating activities was $4.3 million for the six month period ended July 26, 1998, a decrease of $12.9 million compared to last year. The decrease was due to reductions in accounts payable related to the timing of payments for our fiscal 1998 capital expenditure and stock repurchase programs and higher inventories. At July 26, 1998, the Company had $14 million available under its foreign and domestic bank credit facilities. The Company's capitalization ratio was 53.7% at July 26, 1998 compared to 51.4% at January 25, 1998. Working capital was $58.1 million at July 26, 1998 compared to $46.1 million at January 25, 1998. The increase in current assets from our fiscal 1999 rental acquisitions combined with higher inventory levels and reduced accounts payable to produce the $12.0 million increase in working capital. Capital expenditures were $8.0 million through July 26, 1998, $4.5 million less than the comparable period last year. Capital expenditures for fiscal 1999 are expected to approximate $17 million. The Board of Directors has authorized a future sale- leaseback of the corporate headquarters building should the appropriate circumstances exist. During the first quarter of fiscal 1999, the Company acquired certain uniform rental operations in Minnesota, Nebraska and Pennsylvania for approximately $13 million in cash. The assets acquired were primarily industrial uniform routes in Minnesota and Omaha, Nebraska and industrial uniform and linen routes and production facilities in Bethlehem and Harrisburg, Pennsylvania. These acquisitions are expected to add over $10.5 million in annual rental revenues. These acquisitions were accounted for using the purchase method. In August 1998, the Company entered into an agreement to sell three rental laundry facilities to NuCentury Textile Services, Inc., a privately held organization. These principally linen rental facilities are located in Long Beach, California, Duluth, Minnesota and Toledo, Ohio. Estimated annual revenues for these operations are approximately $20 million. These linen facilities were acquired in conjunction with prior acquisitions that expanded geographically our industrial uniform rental network. Some linen business we had acquired in Michigan will also be sold with the transaction. The Company will retain its industrial uniform rental business in Toledo and will process it from existing facilities in Detroit. The proceeds from the sale of approximately $20 million will be used to repay bank debt and for other corporate purposes. The final sales price for this linen business is subject to adjustment dependent on the rental revenues. On June 23, 1998 the Company paid a $.09 per share cash dividend to stockholders of record on June 5, 1998. The $.09 per share dividend was 20% greater than the semiannual dividend paid in the second quarter of last year. Management believes that cash generated from operations, from the sale of the linen plants and its bank credit facilities will be sufficient to meet its cash requirements for acquisitions and capital expenditures in the foreseeable future. 10 Results of Operations Second quarter fiscal 1999 compared to second quarter fiscal 1998 - ----------------------------------------------------------------- Revenues for the second quarter of fiscal 1999 were $72 million, an increase of 5% over the comparable period last year. Rental revenues for the quarter were $59 million, an increase of $4.6 million or 8% higher than last year. The increase in rental revenues was due to acquisitions and improving internal growth within our network of existing locations. Direct sales for the first quarter of fiscal 1999 were $13 million, a decrease of $1.1 million or 8% below the comparable period last year. The decrease in Direct sales was due to volume declines in certain national account programs and fewer implementations of new image programs with national accounts. Depreciation and amortization was $4.9 million, an increase of $551,000 or 12% over the comparable period last year. Amortization of intangible assets from rental acquisitions and higher depreciation from capital expenditures created the increase over last year. Operating income for the second quarter of fiscal 1999 was $6.2 million, a decrease of $316,000 or 5% below the comparable period last year. Lower operating contribution from the Direct sales business created the decrease from last year. Net earnings for the second quarter of fiscal 1999 were $2.7 million, a decrease of $383,000 or 12% below the comparable period last year. Lower profitability of Direct sales created the decrease in net earnings in comparison to the comparable period last year. Net earnings for the second quarter of fiscal 1999 were $.28 per diluted share, a decrease of $.04 per diluted share or 13% below the comparable period last year. Weighted average shares outstanding, assuming dilution, decreased by 3% compared to the second quarter last year due to stock repurchases initiated under the Company's stock repurchase program. Six months fiscal 1999 compared to six months fiscal 1998 - --------------------------------------------------------- Revenues for the six months ended July 26, 1998 were $142 million, an increase of $5 million or 4% over the comparable period last year. Rental revenues for the six months ended July 26, 1998 were $117 million. Internal growth within our existing locations and acquisitions created the $8.0 million or 7% increase in Rental revenues over the first six months of last year. Direct sales for the first six months of fiscal 1999 were $26 million, a decrease of $3 million or 11% less than the comparable period last year. The decrease in Direct sales was due to volume losses within four national account programs. Operating income for the six months ended July 26, 1998 was $11.8 million, a decrease of $1.0 million or 8% below last year. Lower profitability of the Direct Sales segment and increased depreciation and amortization costs offset increased operating contribution of the Rental operations and together created a decrease in operating income in comparison to the comparable period last year. Net earnings for the six months ended July 26, 1998 were $4.9 million, a decrease of $1.2 million or 19% below the comparable period last year. Net earnings per diluted share were $.52 for the six months ended July 26, 1998, a decrease of $.10 per diluted share below the comparable period last year. Lower operating contribution of the Direct Sales segment and increased depreciation, amortization and interest costs created the decrease in net earnings and net earnings per diluted share during the first six months of fiscal 1999. 11 YEAR 2000 --------- The Year 2000 issue involves computer programs and embedded logic devices that utilize two digits rather than four to define the applicable year and the possible failure of those programs and devices to properly recognize date- sensitive information when the year changes to 2000. Systems that do not properly recognize date-sensitive information could generate erroneous data or a system failure. Unitog is conducting a review of its computer systems and those of its significant suppliers to identify those that could be affected by the Year 2000 issue. The Company has proactively changed its data processing equipment, its communication equipment and its core business software applications to respond to increased customer service opportunities with its present customers and vendors and to develop new opportunities with future prospective customers and vendors. The Company believes its key information technology systems should be Year 2000 compliant in the normal course of maintaining or upgrading recently implemented systems. The Company expects such upgrades will be made on a timely basis and does not believe the cost of such upgrades will have a material adverse effect on the Company's operating results. There can be no assurance that the vendor provided upgrades and the systems of other companies with which the Company does business, such as customers and suppliers, will be timely converted or that any such failure to upgrade or convert would not have an adverse effect on Unitog's systems and operations. FORWARD LOOKING STATEMENTS -------------------------- The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements. This Form 10-Q contains forward-looking statements that reflect the Company's current views with respect to future events, financial performance and the completion of the sale of specified rental operations. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words "should," "believe," "expect," "anticipate," "intend," "estimate," and other expressions that indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, performance of acquisitions; economic and business changes; fluctuations in the cost of materials; strikes and unemployment levels; demand and price for the Company's products and services; successfully addressing Year 2000 issues; the completion of the sale of the specified rental operations consistent with signed agreements and the outcome of pending and future litigation and environmental matters. 12 PART II - OTHER INFORMATION --------------------------- Item 1. Legal Proceedings ----------------- See the discussion of certain environmental matters in Part I, Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended January 25, 1998. Item 4. Submission of Matters to a Vote of Security Holders --------------------------------------------------- The Company's Annual Meeting of Stockholders was held on May 21, 1998 at the Company's corporate headquarters, 1300 Washington Street, Kansas City, Missouri. The following directors were elected at the Annual Meeting: G. Kenneth Baum D. Patrick Curran The term of office of the following other directors continued after the Annual Meeting: Michael R. Boyce John W. Caffry Randolph K. Rolf Andrew B. Schmitt William D. Thomas At the Annual Meeting, a total of 8,564,826 shares voted for and 52,037 shares were withheld with respect to the election of G. Kenneth Baum as a director of the Company. There were no broker non-votes. At the Annual Meeting, a total of 8,371,370 shares voted for and 245,493 shares were withheld with respect to the election of D. Patrick Curran as a director of the Company. There were no broker non-votes. At the Annual Meeting, a total of 8,546,492 shares voted for, 36,956 voted against and 33,415 shares abstained from approval of KPMG Peat Marwick LLP, as independent auditors of the Company for fiscal 1999. There were no broker non-votes. Item 6. Exhibits and Reports on Form 8-K -------------------------------- (a) Exhibits. 27 Financial Data Schedule for the quarter ended July 26, 1998. (b) Reports on Form 8-K. Unitog Company did not file any reports on Form 8-K during the quarter ended July 26, 1998. 13 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Unitog Company Dated: September 8, 1998 By: /s/ J. Craig Peterson ---------------------- J. Craig Peterson Executive Vice President Chief Administrative and Financial Officer (Duly Authorized Officer) 14 EX-27 2 FINANCIAL DATA SCHEDULE
5 6-MOS JAN-31-1999 JAN-26-1998 JUL-26-1998 672,278 0 29,448,029 1,160,000 21,001,838 96,929,846 196,723,078 74,451,890 289,328,176 38,797,123 126,220,300 0 0 96,593 108,647,165 289,328,176 25,763,637 142,421,385 22,117,538 126,482,027 0 0 3,932,358 7,886,861 2,995,000 4,891,861 0 0 0 4,891,861 0.52 0.52
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